I stumbled upon this article from Rain City Guide, one of the most respected real estate blogs in the country. It will shed light to our questions regarding the all too-many-delays we experience in short sale transactions.
This phrase hit me straight: "Banks are under no obligation to approve your short sale. I know what you're thinking, reader. You're thinking, "Well if the G.D. bank would just approve my short sale faster, they wouldn't be losing so much money!"
I used to grumble saying that if the banks were just smarter, they would approve the short sales faster. Well, I now realize it's not that simple really.
Here's the complete post: Jillayne Schilecke On Short Sales
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